Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card has been one of the most recommended travel credit cards for years. For a $95 annual fee, it delivers earning power, redemption flexibility, and travel protection that most cards at this price point simply can't match.

This isn't a card for everyone. It's best suited for people who travel a few times a year, dine out regularly, and want their everyday spending to translate into meaningful travel rewards. But for that audience, the Sapphire Preferred remains the benchmark against which mid-tier travel cards are measured.

What the Chase Sapphire Preferred® Card Offers Right Now

New cardholders can earn 75,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening. When redeemed through Chase Travel℠, that bonus is worth at least $937.50, enough to cover the $95 annual fee nearly ten times over in the first year alone.

Here's how the ongoing rewards structure works:

• 5x points on travel purchased through Chase Travel℠ (excluding hotel purchases that qualify for the $50 annual hotel credit)
• 3x points on dining at restaurants (including takeout and eligible delivery services), select streaming services, and online grocery purchases
• 2x points on all other travel purchases
• 1x point on all other purchases

The card carries a $95 annual fee and a variable APR of 19.24%–27.49%. There is no introductory APR offer on purchases or balance transfers.

Notably, there are no foreign transaction fees, a critical distinction from the Freedom cards and a major advantage for anyone who travels internationally.

Why This Card Stands Out

A Welcome Bonus That Punches Well Above Its Weight

The 75,000-point sign-up bonus is exceptionally generous for a $95-per-year card. Redeemed as cash back, those points are worth $750. Redeemed through Chase Travel℠, they're worth at least $937.50. And transferred to a partner like World of Hyatt, where points can often deliver 2 cents or more in value per point, that bonus could be worth $1,500 or more toward hotel stays.

Very few cards at this annual fee tier offer a welcome bonus with that kind of ceiling. The $5,000 spending requirement over three months is higher than the Freedom cards, but still achievable for most households through normal expenses like rent payments, third-party services, insurance premiums, or planned purchases.

Transferable Points Change Everything

This is the feature that separates the Sapphire Preferred from virtually every other card under $100 per year. The points earned aren't locked into a single redemption method. They can be transferred at a 1:1 ratio to a deep roster of airline and hotel partners, including World of Hyatt, United MileagePlus, Southwest Rapid Rewards, Air Canada Aeroplan, British Airways Avios, Air France/KLM Flying Blue, and others.

That transfer flexibility means the value of your points isn't fixed. A point redeemed as a statement credit is worth 1 cent. The same point transferred to Hyatt and used for a well-chosen hotel booking could be worth 2–3 cents or more. This variable upside is what makes the Sapphire Preferred fundamentally different from a flat-rate cash-back option.

The Sapphire Preferred also serves as the hub for combining points from other Chase cards. Pair it with a Chase Freedom Unlimited® or Chase Freedom Flex®, and the cash back earned on those no-annual-fee cards transforms into transferable Ultimate Rewards points. That combination is one of the most efficient multi-card strategies in the rewards space.

The $50 Hotel Credit and Anniversary Bonus Offset the Fee

Two built-in perks help reduce the effective annual fee. Cardholders can earn up to $50 in statement credits each account anniversary year for hotel stays booked through Chase Travel℠. Additionally, each anniversary, Chase awards a 10% points boost, bonus points equal to 10% of total purchases made the previous year. Spend $25,000 in a year, and you'll get an extra 2,500 points automatically.

Between the hotel credit and the anniversary bonus, moderate spenders can effectively reduce the $95 annual fee to near zero, making the card's ongoing value proposition even stronger.

Rewards Categories That Align With Real Spending

The 3x rate on dining is broadly useful. It covers sit-down restaurants, takeout, delivery services like DoorDash and Uber Eats, and even some fast food. The 3x on select streaming services (think Netflix, Spotify, Hulu) and online grocery orders adds earning power in categories that barely existed a decade ago but are now staples of most household budgets.

The 2x rate applies to all other travel expenses, including flights, hotels, car rentals, trains, tolls, and parking, regardless of where you book. Unlike the 5x rate, which requires booking through Chase Travel℠, the 2x rate covers direct bookings with airlines and hotels, too. That distinction matters for travelers who prefer to book directly for status credits or specific fare classes.

Travel Protections That Save Real Money

The Chase Sapphire Preferred® Card includes travel protections that rival cards costing three or four times as much:

Trip cancellation/interruption insurance reimburses up to $10,000 per person and $20,000 per trip for prepaid, non-refundable travel expenses if your trip is canceled or cut short due to covered events such as illness, severe weather, or other qualifying situations.

Primary auto rental collision damage waiver means you can decline the rental company's insurance entirely. Unlike secondary coverage (which requires filing through your personal auto policy first), primary CDW kicks in immediately. This benefit alone can save $15–$30 per rental day.

Travel accident insurance covers up to $500,000 in accidental death or dismemberment when you pay for transportation with the card.

Lost luggage reimbursement and trip delay reimbursement round out a travel protection suite that meaningfully reduces the financial risk of things going wrong on the road.

DashPass and Partner Perks Add Everyday Value

Cardholders can activate a complimentary DashPass membership (through December 31, 2027), which waives delivery fees and reduces service fees on eligible DoorDash orders. DashPass members also receive a $10 monthly promo ($120 annually) to save on grocery, retail, and other non-restaurant DoorDash orders. That's a significant ongoing perk for anyone who regularly uses delivery services.

The card also currently earns 5x total points on Lyft rides (through September 30, 2027) and 5x on eligible Peloton equipment and accessory purchases over $150 (through December 31, 2027).

Where the Card Falls Short

No Introductory APR

Unlike the Freedom Unlimited and Freedom Flex, the Sapphire Preferred offers no 0% intro APR period on purchases or balance transfers. If you need to finance a large purchase or consolidate existing credit card debt, this isn't the card to use for that purpose.

The 1x Base Rate Is Uninspiring

For purchases outside of travel, dining, streaming, and online groceries, the Sapphire Preferred earns just 1x. Heavy everyday spenders who don't concentrate their spending in the bonus categories may find that a flat-rate 1.5% or 2% card earns more in total rewards. The solution is pairing the Sapphire Preferred with a Freedom Unlimited for non-category spending, but that does require carrying two cards.

The $5,000 Spending Threshold May Be a Stretch

While the 75,000-point welcome bonus is outstanding, spending $5,000 in three months isn't trivial for every household. The Freedom cards only require $500 in spending. If hitting $5,000 would mean overspending or buying things you don't need, the bonus isn't worth the debt. Timing the application around a planned large expense, a vacation, appliance purchase, or insurance premium, can help meet the threshold without changing spending habits.

Not Ideal for Maximizers Who Want Lounge Access

The Sapphire Preferred doesn't include airport lounge access, Global Entry/TSA PreCheck credits, or the elevated travel credits that come with the Chase Sapphire Reserve® (which carries a $795 annual fee). For frequent travelers who fly multiple times per month and want premium perks, the Preferred may feel like it's leaving value on the table, though the math only works in the Reserve's favor for heavy travelers who will use those benefits consistently.

Who Should Consider the Chase Sapphire Preferred® Card?

Moderate travelers who dine out regularly. If you take two or three trips a year and spend meaningfully on restaurants and delivery, the Sapphire Preferred's earning structure is built around your spending patterns.

Anyone ready to step up from a no-fee cash back card. The Sapphire Preferred is the natural next step for cardholders already using a Chase Freedom Unlimited® or Freedom Flex®. It transforms the cash back earned on those cards into transferable travel points.

Points enthusiasts who value transfer flexibility. Access to Chase's transfer partners is the card's most powerful feature. For anyone who wants the option to transfer points to Hyatt, United, Southwest, or a dozen other programs, this is the most affordable way to unlock that capability.

International travelers. No foreign transaction fees, primary auto rental CDW, and robust trip insurance make this a strong travel companion overseas.

Who Might Want to Look Elsewhere

If you rarely travel and don't dine out often, a no-annual-fee cash-back card will likely deliver more value without the $95 annual fee. If you travel very frequently and want lounge access, higher travel credits, and elevated point redemption rates, the Chase Sapphire Reserve® may justify its higher fee. And if you tend to carry a balance, the lack of an intro APR and the 19.24%–27.49% variable rate make this a poor choice; interest charges will quickly erase any rewards earned.

The Bottom Line

The Chase Sapphire Preferred® Card remains one of the most well-rounded travel rewards cards available in 2026. Its 75,000-point welcome bonus delivers exceptional first-year value, the transfer partner access is unmatched at the $95 price point, and the built-in travel protections, particularly primary rental car coverage and trip cancellation insurance, provide tangible financial safety nets that most competitors in this tier don't offer.

It's not the cheapest card (there's an annual fee) and it's not the most premium (no lounge access or outsized credits). But it occupies a sweet spot that works for the largest number of travelers: strong earnings on everyday spending, flexible redemption options that grow in value over time, and a cost that's easy to justify. For anyone serious about getting more from their spending without paying a premium-card price, the Sapphire Preferred is still the card to beat.

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